The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1887-08-26
CONDITION OF THE MARKETS
Wheat Opens Lower and Throughout
the Day Remains Below Seventy Cents.
The Bulls" Secure Control Of the Corn Mar
ket and the Decline Of Wednesday Is Re-
gained-ProvisiOns Easier and Lower.
MONEY, BONDS AND STOCKS.

The eBears" Make q Successful Move but
the Decline Is Recovered Later in the Day.
NEW YORK, Aug 25-1foney on call loaned
at from to 10 per cent. the last loan being
made at 5, closing offered at
Prime Mercantile paper. 81 09 per cent.
Sterling exchange was dull but steady and un-
changed.
The total sales of stocks to-day were $40. 155
shares, including the following: Delaware,
Lackawanna & Western, 26.2l0; Erie, 6750;
Lake Shore $3.50; Louisville s. Nashville, $500;
Missouri Pacific, II, $50; Northwestern, 1870;
New York Central, AGO. Northern Pacific, pre-
ferred. 1907; Oregon & Transcontinental. 4,415;
Reading, o. POS; ST. Paul, $3.50; st. Paul g.
Omaha, $40: Union Pacific, 3.120; Western
Union. 1860.
The failure of Grovesreen g. Pen was taken
advantage of to-day by the bears" to make a
further demonstration against values. and there
was also considerable pressure of "lone' stocks
1t the opening. The market met with good sup
port from the insiders and some Improvement
was actually made, when the official announce
ment of the failure brought everything down
again The material losses, however, were con-
hued to few stocks only, most of the list being
well held throughout But the severest pressure
against Missouri Pacific, which was broken
over four points and had very
aemoraIizing effect upon the remainder.
Other stocks which suffered heavily were
Northern Pacific preferred, Lake Erie g West
ern preferred, New York Central, and several of
the specalties, prominent among which was
Richmond & West Point preferred. which sold
at 81 against 80 yesterday. Reading was at
tackled. also, but freely supported and several
large blocks changed hands, but the stock never
got moro than fraction below its opening price.
The covering became very heavy toward noon,
ard on the removal of the pressure prices re-
covered in everything except the specially weak
spots. The Improvement was not held, how
ever considerable selling being done at the close
First prices were invariably lower than yester-
days final prices. and the declines ranged NJ to
feverish and Irregular in the forenoon
The excellent support accorded the
i to per cent in the first half hour, but Orc
gon Navigation, Lake Erie q Western preferred,
and Northern Pacific preferred were very weak
and were afterward joined by the general list,
with Missouri Pacific in the lead and by
o'clock the latter had fallen nearly four points.
New York Central also became prominently weak
ut that time. The decline was then checked
and the market Quoted down and general i'm
provement took place all along the line, prices
in most cases approaching those of the opening
in the last hour. Free selling again knocked
quotations off at the close, which was quiet but
weak. Almost everything is lower. and Mis-
souri Pacific is down 81; Hooking Valley and
Tennessee Coal. II: Reading, II; New York Cen
trial, Northern Pacific preferred, and Omaha, Il;
Kansas g. Texas II: Canada Southern, 1 Der
sent., and others fractional amounts.
Railroad bonds were somewhat more active
to-day, but were still dull the total sales of all
issues amounting to only 900, and Atlantic
and Pacific incomes were the only active bonds,
their sales aggregating $123 000 The transac-
tions were void of special feature, but the mar
ket was heavy to weak and final prices generally
show declines. Denver & Rio Grande Western
assented skies lost 2, at 6S; International Sec
onds. 2, at 80; New York City e. Northern
ceipts g. at 60; the assented receipts. 5, at GO;
New Orleans g. Pacific trust receipts, q, at
rs; Oregon Navigation fives, 2. at 80, and No
bile & Ohio first debentures, 2, at 48.
State bonds were dull and featureless. Closing